Rising Demand for 5G Network and High-Speed Internet Boosts Asia Pacific GNSS Chip Market
Demand for location-based services (LBS) is increasing. High speed and lower latency of 5G enable advanced and real-time LBS applications such as enhanced navigation with turn-by-turn directions and live traffic updates; augmented reality experiences integrated with real-world locations; precise indoor positioning for shopping malls, airports, and other buildings; improved asset tracking; and fleet management solutions.Positioning has played an essential role in enabling cellular communication to offer mobile network operators a broad range of approaches to determine each user's location with varying degrees of accuracy. Global navigation satellite system (GNSS) has been the source for accurate positioning of user devices. Many mobile network operators have announced the deployment of 5G networks in urban areas. The Quectel L26-T module can deliver 6.8 nanosecond timing accuracy and meet stringent timing synchronization requirements with 5G networks. Thus, rising demand for 5G network and high-speed internet drives the growth of the Asia Pacific GNSS chip market.
Asia Pacific GNSS Chip Market Overview
The Asia Pacific GNSS chip market growth is primarily attributed to the rising volume of consumer electronics equipped with navigation and positioning features. In addition, rising demand for 4G and 5G network coverage, high-speed internet, and increasing penetration and sales of wearable devices across various global economies are the key factors projected to propel the demand for GNSS chips.The growth of the Asia Pacific GNSS chip market in Asia Pacific is due to the presence of significant manufacturers in the region. In APAC, the major consumer electronics manufacturers focus on developing innovative products that require recording locations and real-time data for tracking by using various devices such as smartphones, wearable devices, and tablets. Hence, the growing popularity of wearable devices and the ongoing technological advancements in the consumer electronics sector in APAC fuel the growth of the Asia Pacific GNSS chip market. Moreover, several companies in the region are engaged in launching satellite positioning chips.
For instance, in December 2023, Airoha Technology, specializing in fixed broadband network infrastructure and advanced Artificial Intelligence of Things, launched the AG3335MA satellite positioning chip series. This series passed the AEC-Q100 Grade 2 reliability qualification tests for automotive applications. Additionally, the company successfully integrated this series of chips with its parent company, MediaTek, and its Dimensity auto platform, providing highly integrated solutions and technical testing services to automotive manufacturers worldwide.
Asia Pacific GNSS Chip Market Segmentation
- The Asia Pacific GNSS chip market is segmented based on device, application, vertical, and country.
- Based on device, the Asia Pacific GNSS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. The smartphones segment held the largest share in 2022.
- In terms of application, the Asia Pacific GNSS chip market is segmented into navigation and location-based services, mapping and surveying, telematics, timing and synchronization, and others. The navigation and location-based services segment held the largest share in 2022.
- By vertical, the Asia Pacific GNSS chip market is segmented into consumer electronics, automotive & transportation, military & defense, marine, and others. The consumer electronics segment held the largest share in 2022.
- Based on country, the Asia Pacific GNSS chip market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific GNSS chip market in 2022.
- Qualcomm Inc, Skytraq Technology Inc, Broadcom Inc, Septentrio NV, Trimble Inc, Furuno Electric Co Ltd, MediaTek Inc, STMicroelectronics NV, Skyworks Solutions Inc, and u-blox Holding AG are some of the leading companies operating in the Asia Pacific GNSS chip market.
Market Highlights
- Based on device, the Asia Pacific GNSS chip market is segmented into smartphones, tablets, personal navigation devices, in-vehicle systems, and others. The smartphones segment held 54.4% share of the Asia Pacific GNSS chip market in 2022, amassing US$ 908.83 million. It is estimated to garner US$ 1.82 billion by 2030 to expand at 9.1% CAGR during 2022-2030.
- In terms of application, the Asia Pacific GNSS chip market is segmented into navigation and location-based services, mapping and surveying, telematics, timing and synchronization, and others. The navigation and location-based services segment held 59.9% share of the Asia Pacific GNSS chip market in 2022, amassing US$ 1.00 billion. It is estimated to garner US$ 2.12 billion by 2030 to expand at 9.9% CAGR during 2022-2030.
- The consumer electronics segment held 45.5% share of Asia Pacific GNSS chip market in 2022, amassing US$ 759.82 million. It is predicted to garner US$ 1.62 billion by 2030 to expand at 10.0% CAGR during 2022-2030.
- China held 27.5% share of Asia Pacific GNSS chip market in 2022, amassing US$ 459.37 million. It is projected to garner US$ 797.74 million by 2030 to expand at 7.1% CAGR during 2022-2030.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Asia Pacific GNSS chip market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in Asia Pacific GNSS chip market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth Asia Pacific market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
Table of Contents
Companies Mentioned
Some of the leading companies in the Asia Pacific GNSS Chip market include:- Qualcomm Inc
- Skytraq Technology Inc
- Broadcom Inc
- Septentrio NV
- Trimble Inc
- Furuno Electric Co Ltd
- MediaTek Inc
- STMicroelectronics NV
- Skyworks Solutions Inc
- u-blox Holding AG
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 141 |
Published | August 2024 |
Forecast Period | 2022 - 2030 |
Estimated Market Value ( USD | $ 1.67 Billion |
Forecasted Market Value ( USD | $ 3.53 Billion |
Compound Annual Growth Rate | 9.8% |
Regions Covered | Asia Pacific |
No. of Companies Mentioned | 11 |